Tata Digital renews lease for its headquarters in South Mumbai at a monthly rent of ₹3 crore - Hindustan Times
close_game
close_game

Tata Digital renews lease for its headquarters in South Mumbai at a monthly rent of 3 crore

ByMehul R Thakkar
Jun 13, 2024 07:00 PM IST

Mumbai real estate market: The commercial office space leased by Tata Digital is located in Fort area of South Mumbai. The monthly rent is ₹292 per sq ft

Tata Digital Pvt Ltd has renewed the lease for its headquarters Fort House located in South Mumbai. The monthly rent for the commercial space is 2.98 crore, according to the documents accessed by FloorTap.com

The commercial office space for which Tata Digital has renewed its lease is located in Fort area of South Mumbai and the monthly rent works out to be <span class='webrupee'>₹</span>292 per sq ft.
The commercial office space for which Tata Digital has renewed its lease is located in Fort area of South Mumbai and the monthly rent works out to be 292 per sq ft.

The security deposit paid for the transaction is 15.03 crore. The office space comprises ground plus six floors with Tata Digital taking up space on each floor except 588 sq ft of space on the second floor, according to the documents.

The entire office space is spread across 1.02 lakh sq ft, the document showed.

The transaction was registered on May 16, 2024 and the lease period for the transaction is for three years between April 2024 to March 2027, the documents showed. The office space has been leased by Tata Digital Pvt Ltd from Dawat-E-Hadiyah, a public charitable trust.

Here’s how the monthly rent stacks up

The monthly rent for the commercial space is 2.98 crore that works out to be around 292 per sq ft. In the previous lease tenure, the monthly rent was 2.50 crore or 245 per sq ft for the period between April 2019 to March 2022, and 2.88 crore or 282 per sq ft for the period between April 2022 to March 2024.

Also Read: Office buildings in Mumbai’s Bandra Kurla Complex command higher prices than Manhattan

An email query sent to Tata Digital and Dawat-E-Hadiyah, a public charitable trust, did not get any response.

Also Read: Sunteck Realty Ltd leases second commercial building in Mumbai for 29 years to generate rent revenue of over 2000 crore

Fort is Mumbai's old commercial business district

Fort area, where Tata Digital has renewed the lease for its office space, is one of the oldest commercial business districts in South Mumbai. Fort area also houses several heritage buildings from the British era. Several Central and state government offices, including General Post Office, Mumbai Port Trust, Shipping Ministry, Maharashtra Maritime Board are located there.

Old commercial business districts in South Mumbai include Nariman Point, Cuffe Parade, Churchgate and Marine Lines among others.

Also Read: UK Consulate buys office space in Mumbai’s Lower Parel area from Lodha Group for 101.2 crore

In a recent office deal in the Mumbai real estate market, the United Kingdom (UK) Consulate had bought 12 office units from Macrotech Developers Ltd, which operates under the Lodha brand, in the project One Lodha Place in Lower Parel, Mumbai, for 101.2 crore.

Catch every big hit, every wicket with Crickit, a one stop destination for Live Scores, Match Stats, Infographics & much more. Explore now!

See more

Get Current Updates on India News, Elections 2024, Lok sabha election 2024 voting live , Karnataka election 2024 live in Bengaluru , Election 2024 Date along with Latest News and Top Headlines from India and around the world.

SHARE THIS ARTICLE ON
Share this article
SHARE
Story Saved
Live Score
OPEN APP
Saved Articles
Following
My Reads
Sign out
New Delhi 0C
Friday, July 19, 2024
Start 14 Days Free Trial Subscribe Now
Follow Us On